Angel Company provided the following data for June 30: June 1 Balance 5,000 units @ P20.00 each June 3 Sale 3,000 units @ P35.00 each June 10 Purchases 6,000 units @ P21.50 each June 13 Purchases 3,000 units @ P20.50 each
Angel Company provided the following data for June 30: June 1 Balance 5,000 units @ P20.00 each June 3 Sale 3,000 units @ P35.00 each June 10 Purchases 6,000 units @ P21.50 each June 13 Purchases 3,000 units @ P20.50 each
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Angel Company provided the following data for June 30:
June 1 Balance 5,000 units @ P20.00 each
June 3 Sale 3,000 units @ P35.00 each
June 10 Purchases 6,000 units @ P21.50 each
June 13 Purchases 3,000 units @ P20.50 each
College of Accounting Education
3F, Business & Engineering Building
Matina, Davao City
Phone No.: (082)300-5456 Local 137
- 200 -
June 20 Sales 1,500 units @ P35.00 each
June 25 Purchases 2,000 units @ P22.00 each
June 28 Sales 5,500 units @ P35.00 each
June 30 Sales 2,500 units @ P35.00 each
Requirements: Compute the inventory cost at the end of June based on the following cost-flow
assumptions:
1. Weighted Average
2. Moving Average – Perpetual
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